Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1887-07-28

ana purchasing OF fopo-oox and Hi
associates the valuable franchise. Fol
this they paid $50. 900 Ia stock.
Here was iEtsle feature about which
80 Prsoeeuefug Attorney vas VERY 80.
licitoos. II vas necessary, Ia order 20
secure charter for q corporation, that
the capital stock Of the company should
b PAID up. How was u 10 this case
be asked.
sThs capital Of tho company eonslst.
ed Of tie franchise, which vas valued a
$4,000 Mr.. Pope Oox's .sass0olatea,i
tn the application for Q franchise were
not nansd. upon hia securing the fran.
ehisa, he went 10 Il. N. Onimetie. De.
Van Dozen, John p. Jndson and 5. II.
Nolan and offered % make them bid
associates With the consideration that
they purchase their plant eniirsiy from
him. They accepted, the eond lions
we're ae3opted aud the company with .
long name was formed and to each Of
those named Stock va Issued T. the
smount Of $4,000. With this they pnF.
chased Of Pope COX and associates
the ffanohise-payinR P0pe-Ccx end
associates therefor, Il wiil be under
stood, the stock Of the company with
the long name. Toe stock they had
issued 10 themselves &c members Of the
company vas thus paid 10 themselves Is
Pope Cox and associates" and, there
fore, tbs company had nothing buf the
franchise and needed nothing 90 muck
% make that valuable as ready money.
Hence
THKI MUTUALLY AGREED
To cell half their stock to whomsosver
might buy and devote ths returns 10 The
uses q The company. They we're snx-
Inus 10 Gel 10 ahead OF lie Tacoma
Light and Water Company, which had
also applied for 4 franchise. and 90 an
tioipatina this sale Of stock, Mr.. Pope
Oox A. ngens % the companies be rep
resented. and net Is manager Of the
Merchants, 40. Company. sent an or
der for the plant--for Il must be said
they bad bad meeting. elected them
selves Directors, and Pope-Cox Mar
eReF. Tue hilch here, 70 leave The al
rect thread Of the facts aa eliminated
By the teSkimany il the case, will be
temembcFed ~ having bean reported
10 this eoinmn, Mr.. pope-Cox being
ecnipelled 10 90 East 10 have TIE stu3
shipped, the misundofsiandine growing
ous Of bic neiinz 10 the dual capacity Of
agent fer the company selling and
manager o. tbs company buying, las
ALLEGED h an inteRvieW With Mr.. Oui-
nettej, and uhile that difficulty re-
nained unadfazted Of NJ. Hosnssr Step
sing over 70 Nsw York In she interest," 81
e. =. WFight and ths Tacoma Linhs
and Water Company, and purchasing
the plant Of the American Company
hat vas 10 have been billed % the hef-
chants -. Company.
Eleven kBnaFed dollars worth Of stock
uza sold. which 81 tbs Quotel price
thereof fealizid 10 the company REED
With this the poles we're erected thar
ao9 stand 81 regular intervals along
certain 81 the streets q The ei.g so
nsny white. tall, smooth rnouumenfn
% pAtisnce -paiient waiting for ths
plAns that al nsknoun 10 them a. a..
rived long since. Two haudreA mna
aFly q y vent for We portion 81 ths
laaieElsl that eanne out IN Response ts
he order.
EUo Fuz n THn MONTH.
For thls siock = Mr.. Donxhefty ana
ssa brother paid $50, and EidIelre
rave hia note Ter 500. This nals, NJ,
8idfedee says. Is secured BIZ Mr.. Ouiua-
llee and DR.. Van BaEelf. a1d be says be
la arranged viii thsm 10 ensurna a.
laaAl rfopoEtian 81 d.
these factA excepl with regard 10 khs
aeee and lhe references 10 q pEeviuus
pnolteatson Gefes a. stated. bfnueAs
sak u TIE ttskimo1y tkis moxninR. Il |
3 fellher Stated oy council Il ne eass
hsa tepe-Ccx. ander Tie eonaiiians ~ |
.krfed - absTe. i nala owner AZ ne /
IEanehisa claimed By lha Merchants /
.empany Pspa Ccx. under these oan
safanaA waa b maka fhs Renlisnsn 1
,aHe1 he aesoeiAfsa u he franchiss 4
,Eesiaed they purchased shs olsesfie
leht risnt ffom kiE- They ala nns
,AEehaao a. k0ne4 TIE Mt1ornsy d. 1
tazss teeB are naa HE associates. nnd /
- Eareh1sR, wlth Esaek. eta.. Il al a. /
~ vcid. Rnps Ccx b tha o9nsr n